Independent journal on economy and transport policy
12:57 GMT+1
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Lamprell anticipates the offer in order to acquire Maritime the Industrial Services
It has a value of 336,1 million dollars
May 19, 2011
Lamprell plc has made official today own intention to acquire Middle Eastern Maritime the Industrial Services Co. (MIL), society of engineering and contracting that work in the fields of the oil, the gas and the energy ( on 7 April 2011), introducing an appropriate offer in order to buy the entire capital stock of MIS to which it assigns a value of about 1.869 million Norwegian crowns (336,1 million dollars), figure that adds to every action of MIS a value of 38 Norwegian crowns. Lamprell will entirely finance the operation through an issue of shares undersigned from J.P. Morgan Securities Ltd. , HSBC Bank plc and Merrill Lynch International, through a loan and deep own.
The board of directors of MIS has decided unanimously to recommend the shareholders to accept the offer. "This agreement - the managing director of MIS, Kevin Hudson has explained - is in the best interest of our shareholders and the complementary nature of ours two activity offers remarkable opportunities for the future of the increased group and employee its". MIS has announced that some shareholders, included managing of the company, that they represent about 81.5% of the MIS capital, have already signed a preliminary agreement for the acceptance of the offer.
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